UBS tops dark MTF trading

The dark multilateral trading facility operated by Swiss bank UBS was the largest in Europe last month, grabbing almost a quarter of the region’s dark trading, according to data from Thomson Reuters.

The dark multilateral trading facility (MTF) operated by Swiss bank UBS was the largest in Europe last month, grabbing almost a quarter of the region’s dark trading, according to data from Thomson Reuters.

UBS MTF accounted for 24.5% of European dark MTF trading, overtaking the CXE dark book – the new name for Chi-X Europe’s former dark pool Chi-Delta following its takeover by BATS Global Markets – which had held the top position for the first five months of the year.

The CXE dark pool traded 20.1% of dark MTF volumes, down from 21.3% in May. Goldman Sachs’ Sigma X MTF was third with 12.9%, followed by ITG’s POSIT crossing network, which traded 10.9% of volumes.

London Stock Exchange-owned Turquoise, which made a series of enhancements to its dark pool in mid-June, gained 0.6% market share, accounting for an overall share of 7.7%.

Dark MTF volumes reached their lowest point so far this year, with €25.5 billion traded in June compared to €27.7 billion in May. By comparison, trading in broker crossing networks totalled €27.9 billion in June, up from €24.4 billion in May, according to the Thomson Reuters data.

Combined, BCNs and dark MTFs represented 7.43% of total volume.

Trading across all European exchanges and MTFs slumped to a year-low of €691.5 billion in June, down from €738.6 billion in May.

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